.
|
Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
INEOS EUROPE AG |
|
|
|
|
Registered Office : |
Avenue des Uttins 3 1180 Rolle/VD |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
21.01.2011 |
|
|
|
|
Com. Reg. No.: |
550.1.083.017-1 / 1007414 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Sales of Acrylonitrile and Acetonitrile |
|
|
|
|
No of Employees : |
50-79 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland is
a peaceful, prosperous, and modern market economy with low unemployment, a highly
skilled labor force, and a per capita GDP among the highest in the world.
Switzerland's economy benefits from a highly developed service sector, led by
financial services, and a manufacturing industry that specializes in
high-technology, knowledge-based production. Its economic and political
stability, transparent legal system, exceptional infrastructure, efficient
capital markets, and low corporate tax rates also make Switzerland one of the
world's most competitive economies. The Swiss have brought their economic
practices largely into conformity with the EU's to enhance their international
competitiveness, but some trade protectionism remains, particularly for its
small agricultural sector. The fate of the Swiss economy is tightly linked to
that of its neighbors in the euro zone, which purchases half of all Swiss
exports. The global financial crisis of 2008 and resulting economic downturn in
2009 stalled export demand and put Switzerland in a recession. The Swiss
National Bank (SNB) during this period effectively implemented a zero-interest
rate policy to boost the economy as well as prevent appreciation of the franc,
and Switzerland's economy recovered in 2010 with 3.0% growth. The sovereign
debt crises currently unfolding in neighboring euro-zone countries pose a
significant risk to Switzerland's financial stability and are driving up demand
for the Swiss franc by investors seeking a safe-haven currency. The independent
SNB has upheld its zero-interest rate policy and conducted major market interventions
to prevent further appreciation of the Swiss franc, but parliamentarians have
urged it to do more to weaken the currency. The franc's strength has made Swiss
exports less competitive and weakened the country's growth outlook; GDP growth
fell to 1.9% in 2011 and 0.8% in 2012. Switzerland has also come under
increasing pressure from individual neighboring countries, the EU, the US, and
international institutions to reform its banking secrecy laws. Consequently,
the government agreed to conform to OECD regulations on administrative
assistance in tax matters, including tax evasion. The government has
renegotiated its double taxation agreements with numerous countries, including
the US, to incorporate the OECD standard, and is considering the possibility of
imposing taxes on bank deposits held by foreigners. These steps will have a
lasting impact on Switzerland's long history of bank secrecy.
|
Source
: CIA |
INEOS Europe AG
Avenue des Uttins
3
1180 Rolle/VD
Switzerland/CH
Telephone: 021
6277088
Fax: 021
6277045
Web
site: http://www.ineos.com
WIN
Worldbox No.: CH0008891743
VAT-No.: CHE490118020
Established: 2011
Line of Business: Consumer goods wholesale
Industry Division: Wholesale trade
Industry-code (NACE): 4675 Wholesale of
chemical products
Import/Export: Import, Export
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 50-79
The business activities includes the sales of Acrylonitrile and Acetonitrile.
Real Estate: The company owns
no property
Company No: 550.1.083.017-1
/ 1007414
Legal form: Company
limited by shares
Registration: 21.01.2011
Legal status: active
Responsible Register: Registre du commerce du canton de Vaud
History: Date
of Incorporation Statutes: 17.01.2011
Entry Deleted Name
21.01.2011 INEOS
Europe AG
Entry Deleted Legal domicile
21.01.2011 Rolle,
Switzerland
Entry Deleted Address
21.01.2011 Avenue
des Uttins 3, 1180 Rolle/VD, Switzerland/CH
Entry Deleted Capital
21.01.2011 Share
Capital CHF 100,000, paidup CHF 100,000
Entry Deleted Capital Structure
21.01.2011 100,000
Registered shares of CHF 1.--
Entry Deleted Activity (original Language)
21.01.2011 L'achat
et la vente de produits chimiques, notamment le Nitrile, en Suisse ou à
l'étranger (pour but complet cf. statuts).
Entry Deleted Remarks (original Language)
19.12.2013 Note:
L'identification sous le numéro CH-550-1083017-1 est remplacée par le numéro
d'identification des entreprises (IDE/UID) CHE-490.118.020
21.01.2011 Publishing
authority: Feuille officielle suisse du commerce.
Title Name
President John Reece,
Origin: United Kingdom, Residential address: Bougy-Villars, Switzerland, born:
07.03.1957, single signature, Registered since: 21.01.2011
Director Andrew
Christopher Currie, Origin: United Kingdom, Residential address: Rolle, Switzerland,
born: 04.12.1955, single signature, Registered since: 21.01.2011
Director Calum
Grigor Maclean, Origin: United Kingdom, Residential address: Rolle,
Switzerland, born: 08.12.1963, single signature, Registered since: 21.01.2011
Director Mark Ian
Parry Mitchell, Origin: United Kingdom, Residential address: Rolle,
Switzerland, born: 11.02.1958, single signature, Registered since: 21.01.2011
Title Name
Member
with procuration Gordon
William Adams, Origin: United Kingdom, Residential address: Sunninghill, United
Kingdom, single power of attorney, Registered since: 20.06.2011
Member
with procuration Yasin Ali ,
Origin: United Kingdom, Residential address: Christchurch, United Kingdom,
single power of attorney, Registered since: 15.07.2013
Member
with procuration Roger Bell ,
Origin: United Kingdom, Residential address: Féchy, Switzerland, single power
of attorney, Registered since: 15.07.2013
Member
with procuration Stephen
Bennett , Origin: United Kingdom, Residential address: Lausanne, Switzerland,
single power of attorney, Registered since: 15.07.2013
Member
with procuration David
Nicholas Brooks, Origin: United Kingdom, Residential address: Hampshire, United
Kingdom, single power of attorney, Registered since: 20.06.2011
Member
with procuration Hans Casier,
Origin: Belgium, Residential address: Ghent, Belgium, single power of attorney,
Registered since: 20.06.2011
Member
with procuration Peter Graeme
Clarkson , Origin: United Kingdom, Residential address: Rolle, Switzerland,
single power of attorney, Registered since: 26.01.2012
Member
with procuration Henry Deans,
Origin: United Kingdom, Residential address: Salisbury, United Kingdom, single
power of attorney, Registered since: 20.06.2011
Member
with procuration Jonathan
Frank Ginns , Origin: United Kingdom, Residential address: Salisbury , United
Kingdom, single power of attorney, Registered since: 26.01.2012
Member
with procuration Peter
Quentin Grant , Origin: United Kingdom, Residential address: Lutry,
Switzerland, single power of attorney, Registered since: 26.01.2012
Member
with procuration Leonardus
Hendrik Heemskerk, Origin: Netherlands, Residential address: East Wellow,
United Kingdom, single power of attorney, Registered since: 20.06.2011
Member
with procuration Peter Huyck
, Origin: Belgium, Residential address: Ruisbroek, Belgium, single power of
attorney, Registered since: 26.01.2012
Member
with procuration Graeme Leask
, Origin: United Kingdom, Residential address: Eastleigh , United Kingdom, single
power of attorney, Registered since: 26.01.2012
Member
with procuration Richard Ian
Longden , Origin: United Kingdom, Residential address: Féchy, Switzerland,
single power of attorney, Registered since: 26.01.2012
Member
with procuration Michael Maher
, Origin: United Kingdom, Residential address: Wrexham , United Kingdom, single
power of attorney, Registered since: 15.07.2013
Member
with procuration Robert John
Nevin, Origin: United Kingdom, Residential address: Arzier, Switzerland, single
power of attorney, Registered since: 20.06.2011
Member
with procuration Paul
Christopher Overment, Origin: United Kingdom, Residential address: New Milton,
United Kingdom, single power of attorney, Registered since: 20.06.2011
Member
with procuration Ashley
Julian Reed , Origin: United Kingdom, Residential address: Nyon, Switzerland,
single power of attorney, Registered since: 26.01.2012
Member
with procuration William Bain
Reid, Origin: United Kingdom, Residential address: Hampshire, United Kingdom,
single power of attorney, Registered since: 20.06.2011
Member
with procuration David Alan
Schmidt, Origin: United States of America, Residential address: Prangins,
Switzerland, single power of attorney, Registered since: 20.06.2011
Member
with procuration Debra
Smeeton , Origin: United Kingdom, Residential address: Salisbury , United
Kingdom, single power of attorney, Registered since: 26.01.2012
Member
with procuration John David
Thompson , Origin: United Kingdom, Residential address: Founex, Switzerland,
single power of attorney, Registered since: 26.01.2012
Member
with procuration Jan Frans
Vermeersch, Origin: Belgium, Residential address: Herent, Belgium, single power
of attorney, Registered since: 20.06.2011
Member
with procuration Paul
Felicien Verspecht, Origin: Belgium, Residential address: Asse, Belgium, single
power of attorney, Registered since: 20.06.2011
Member
with procuration Peter Sefton
Williams, Origin: United Kingdom, Residential address: Lausanne, Switzerland,
single power of attorney, Registered since: 26.01.2012
Title Name
Auditor PricewaterhouseCoopers
SA, Residential address: Pully, Switzerland, Id: CH-550-0056305-7, Registered
since: 21.01.2011
Consolidation: consolidated (Segment)
Industry: Trade/Industry
Fiscal year end: 31.12.2011 31.12.2010
Number of months: 12 12
Currency: mil.
EUR mil. EUR
Statement norm: IAS IAS
Balance Sheet
Intangible fixed
assets 695.6 993.8
Tangible fixed
assets 3,566.3 4,402.3
Financial fixed
assets 646.5 347.9
other fixed assets 411.0 551.6
Fixed assets 5,319.4 6,295.6
Stocks 1,329.6 2,254.9
Trade accounts
receivable 2,056.5 2,244.4
Liquid assets 582.4 599.2
other trade
accounts 0.0 8.2
Other current
assets 582.4 607.4
Current assets 3,968.5 5,106.7
Total assets 9,287.9 11,402.3
Capital 0.9 0.9
Other shareholders
funds -323.4 -593.8
Total shareholders
equity -322.5 -592.9
Minority interests 0.0 0.0
long term debt
(financial debts) 6,284.1 6,954.9
Provisions 25.9 46.5
Other non current
liabilities 788.5 926.7
Non current
liabilities 7,098.5 7,928.1
short term debt
(financial debts) 309.2 387.9
Trade accounts
payable 2,039.1 3,557.5
Provisions 14.1 28.7
other accounts
payable 149.5 93.0
other current
liabilities 163.6 121.7
Current
liabilities 2,511.9 4,067.1
Shareh. equity,
min. interests + liabilities 9,287.9 11,402.3
Profit and loss
account
Net sales 17,586.4 16,007.8
Other operating
revenue 3.5 10.0
Operating revenue 17,589.9 16,017.8
Cost of goods sold 15,844.5 14,354.9
Gross profit 1,745.4 1,662.9
Other operating
expenses 587.6 578.7
Operating result 1,157.8 1,084.2
Interest revenues 83.5 79.2
Financial income 83.5 79.2
Interest expenses 771.2 898.1
Financial expenses 771.2 898.1
Financial result -687.7 -818.9
Result before
extraordinary items 470.1 265.3
Extraordinary
income 140.7 0.0
Extraordinary
expenses 0.0 78.2
Extraordinary
Result 140.7 -78.2
Result before
taxes 610.8 187.1
Taxes 234.4 243.6
Result before
minority interests 376.4 -56.5
Result for the
financial year 376.4 -56.5
Cash flow
Depreciation 503.9 580.3
Cash flow 880.3 523.8
Cash flow from
operating activities 1,164.3 1,055.1
Cash flow from
investing activities 294.1 83.2
Cash flow from
financing activities -1,478.4 -1,208.4
Others 3.2 7.2
Change in
liquidity -16.8 -62.9
Liquidity at beginning
of the year 599.2 662.1
Liquidity at end
ot the year 582.4 599.2
Notes
Material costs 15,844.5 14,354.9
Cost of employees 707.1 814.1
Added value 2,593.0 2,479.6
Working Capital 1,347.0 941.8
Sales per Employee 2.2 1.9
Employees at year end 7,942 8,458
Name: INEOS
AG
City/Country: Rolle/VD, Switzerland/CH
No. of Owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%
Type: indirect,
Group-Level 1
Name: INEOS
AG
City/Country: Rolle/VD, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest (since 21.01.2011)
Class: 100%
Type: direct,
Group-Level 2
Name: INEOS
Group Holdings S.A.
City/Country: Luxembourg, Luxembourg/LU
Interest: 100,00%
voting right, 100,00% capital interest (since 21.01.2011)
Name: INEOS
Luxembourg I S.A.
City/Country: Luxembourg, Luxembourg/LU
It is believed that the company has no investments.
Control date Year No. Amount CHF Status
27.08.2013 2013 0
27.08.2013 2012 0
27.08.2013 2011 0
27.08.2013 2010 0
27.08.2013 2009 0
An updated legal action check is only available against proof of
interest. e.g. a copy of an enquiry letter, and order or invoice relating to the
subject company
INEOS is a global manufacturer of petrochemicals, speciality chemicals
and oil products. It comprises 15 businesses each with a major chemical company
heritage. Its production network spans 51 manufacturing facilities in 11 countries
throughout the world, sales today of around $43 billion.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is considered to be very good.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.98 |
|
|
1 |
Rs. 104.61 |
|
Euro |
1 |
Rs. 86.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.